Frewer Engineering founder hands majority stake to managing director in planned succession

What's the deal? Frewer EngineeringDealroom has a profile for this one. Try Dealroom →, a UK design and analysis consultancy serving the aerospace, marine, defence, and energy sectors, said managing director Dr Richard Lock has acquired a majority stake from founder Peter Frewer. The buyout, announced November 2, 2026, is a planned internal succession rather than an outside takeover. Terms were not disclosed.

Who's who? Lock has led the firm as managing director since January 1, 2024, and brings more than 20 years in engineering and project delivery across aerospace and defence programmes. Frewer, who built the business over 40 years, stays on as a non-executive director.

What changes for clients? Little, the company says. Existing contracts, project teams, points of contact, and its quality, security, and compliance arrangements all remain in place.

Why now? Companies House filings show Lock was appointed a director on October 7, 2026, with Frewer ceasing as a person with significant control the same day. The transfer puts ownership with the leader already running the business day to day.

"It's a privilege to take on ownership of Frewer Engineering," Lock said. "My focus now is on investing in our team and capabilities." Frewer called the handover "the best outcome I could have hoped for."

The signal: Recent UK engineering deals have leaned toward consolidation — Renew HoldingsDealroom has a profile for this one. Try Dealroom → agreed to buy power-infrastructure specialist PBUDealroom has a profile for this one. Try Dealroom → for up to £50 million, and private-equity-backed Llanelec bought aerospace supplier Kigass Aero Components. Frewer's move runs against that grain: an internal succession that keeps the consultancy independent and owner-managed, aimed at stability for long-cycle aerospace and defence programmes rather than an exit.

Read more: compositesuk.co.uk

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